EUGENE -- Phil Knight's 80th birthday is more than five years away, but celebration plans already have been made for what could be one of the most anticipated college sporting events to ever come to the state.

Sixteen Nike-sponsored schools -- including Oregon, Portland and most of the major powers in men's college basketball -- have committed to participate in a one-of-a-kind tournament over four days in late 2017, just a few months before the 80th birthday of the Nike co-founder on Feb. 24, 2018.

"There are still some logistics to work through, but the concept is fantastic," Oregon athletic director Rob Mullens said. "If all 'I's' are dotted and the 'T's' crossed, this is something people will remember for a long, long time."

The event, as conceived, will have plenty of headlining programs, so much so that Mullens said fans will have a hard time choosing which games to attend.

The event is scheduled for late November 2017. Two, eight-team tournaments will be held simultaneously at the Rose Garden and Veterans Memorial Coliseum.

Committed to participate are Kentucky, Connecticut, Duke, North Carolina, Florida and Michigan State, which have combined to win 16 of the past 22 NCAA Tournament championships. Butler, Georgetown, Gonzaga, Ohio State, Oklahoma, Stanford, Texas and Xavier also have signed on, plus the Ducks and the Pilots.

Michigan State athletic director Mark Hollis, who came up with the idea, billed it as "the greatest in-season basketball event of all-time."

Other early-season tournaments, such as the NIT Season Tip-Off in New York and the Maui Invitational, typically feature a few elite programs. To have a 16-team field this loaded hasn't happened before outside of postseason play.

"It's so unique to be able to align things and get so many programs in one place for a big-time event," Mullens said. "And it's awesome that it's happening in Portland."

Hollis told ESPN.com that Knight and Nike weren't involved in the planning. Hollis sent an e-mail to various athletic directors to gauge interest, and soon got 16 commitments. ESPN has expressed interest in broadcasting the event, he said.

Schools have not signed any contracts, Mullens said. And Hollis noted that, with "the current climate" of conference realignment, plans could change before 2017. But, for now, they're optimistic they'll be able to pull off a big birthday bash for Knight.

The event will pull two teams apiece from the Atlantic Coast, Atlantic-10, Big East, Big Ten, Big 12, Pac-12, Southeastern and West Coast conferences. The field was split into two tournaments because NCAA rules prohibit programs from the same conference playing in the same tournament. Knight attended Oregon and Stanford, the Pac-12 participants. Oregon State officials confirmed the Beavers were not invited.

"It's a natural for us," Mullens said. "To be a part of something like this and really honor and say thank you to Phil Knight and Nike for all they've done for college sports -- I couldn't think of a better way to do it."

Portland has a long history of hosting college basketball tournaments.

The NCAA Final Four was held at Memorial Coliseum in 1965, won by UCLA.

The Beavers and Ducks were co-hosts of the Far West Classic for 40 years, first as an eight-team and then a four-team tournament. The event was scrapped in 1997 because of budget and scheduling issues.

Most recently, Oregon was the host for early-round games of the NCAA Tournament at the Rose Garden in 2009 and 2012.